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Boardwalk Storage Fund Expands Self-Storage Presence in Metro Atlanta

Update 5/24/19 – BDG has opened its multi-story self-storage facility in Woodstock. A public grand-opening celebration was held on May 16.  The property will be managed by industry real estate investment trust CubeSmart and branded under its name.

The project had been rejected twice by city planning commissioners and the council, only to be approved on the third attempt. Mayor Donnie Henriques cast the deciding vote, a source reported.


9/4/18 – BDG is adding another self-storage facility in Woodstock. The company is developing a four-story, 100,000-square-foot property at 185 Woodstock Parkway. The property is strategically located near historic Downtown Woodstock, which features an array of artisan shops, eclectic bars and restaurants, and mixed-use developments. There’s also several multi-family and townhome projects in the vicinity, according to a press release.

“The development will be visible from Interstate 575 and is aesthetically designed to complement the architecture of downtown,” Sheth said. “Boardwalk Development Group is excited to bring this institutional-quality self-storage asset to Woodstock.”

Woodstock is in Cherokee County, which is the third fastest growing county in the Atlanta area. It’s expected to add nearly 160,000 residents by 2040, raising the local population to 392,500, the release stated.


4/24/18 – Boardwalk Storage Fund II has acquired two self-storage facilities in Metro Atlanta and rebranded them under its name. Both sites are near the Lake Lanier recreation area and provide vehicle storage in addition to traditional storage. The company plans to add self-serve kiosks, and customers will have access to online reservations and a call center, according to a press release.

“Technological advances in self-storage leasing and management have now removed a major barrier to consolidation of self-storage assets in secondary markets,” said CEO Rajen Sheth. “Thanks to the introduction of low-cost automated systems, many self-storage properties can now be completely unmanned.”

The 4-acre property on Grant Road in Dawsonville, Ga., also contains 7,150 square feet of retail and office space. The facility is near the North Georgia Premium Outlets shopping center. The second facility, in Cumming, Ga., sits on 5 acres and contains 25,000 square feet of traditional storage and 12,000 square feet of enclosed vehicle storage.

Boardwalk Storage Fund was launched last year by Boardwalk Development Group LLC (BDG), a self-storage acquisition and development company. The company’s strategy is to acquire dislocated self-storage assets in secondary and tertiary markets in the Southeast, with the goal of applying the latest technologies. Boardwalk plans to acquire 60 to 80 facilities, the release stated.

Headquartered in Johns Creek, Ga., BDG is led by Sheth, who launched the ValueSpace Storage Fund I in 2008. The brand sold in 2015 to SecurCare Self Storage, one of eight participating regional operators of National Storage Affiliates Trust, a self-administered and -managed REIT headquartered in Greenwood, Colo.

Source:
Cherokee Tribune & Ledger News, Grand Opening of Cube Storage in Woodstock Set Thursday

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